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There is County Transfer Tax fees but on Residential properties there is no sales tax due. Mobile homes and some modular homes may have a sales tax imposed. Check with a local Realtor and they can assist you with this
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Short sale tax liability?
Much of whether there is tax liability of a short sale depends on whether the home was a primary residence or not. In most circumstances you will not pay taxes on a short sale if it was your primary residence. This is because of a law that went into effect called the Mortgage Debt Relief Act. If the property was an investment and not a primary residence you may have to pay taxes.
Can you deduct - from your taxes - the loss on the sale of your home?
The loss on the sale of a personal residence is a nondeductible personal loss. (Source: http://www.irs.gov/faqs/faq/0,,id=199617,00.html)
Do you still have to pay 1099 taxes if property was your primary residence?
Yes this could be very possible depending on the amount of the gain that you had on the sale of your primary residence. And if you have a 1099 in your hand it would be a good idea to report the transaction on your 1040 federal income tax return for the year of the sale.
Can you avoid capital gains taxes on the sale of your principal residence by reinvesting it in another property of lesser value?
You are thinking of old tax law, long gone. If you lived in the house as your principal residence for at least two of the preceding five years, and your profit on the sale does not exceed $250,000 ($500,000 married filing jointly), no taxes are due. More information: http://www.irs.gov/newsroom/article/0,,id=105042,00.html
You live in California you bought a house in Florida then filed a short sale in California do you still owe taxes and can they come after my new property?
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Where can I read HB 3200?
tax on personal residence sale?
Do you have to pay taxes on the gain of a sale of your home?
The rule for the sale of your main home (primary residence) has an exclusion amount of the long term capital gain if you meet the 2 out of 5 year rule of living in your main home (primary residence. Go to the IRS gov web site and use the search box for Topic 701 - Sale of Your Home If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Publication 523, Selling Your Home, provides rules and worksheets.
What are the taxes on production transportation sale or consumption of goods?
Excise Taxes.
Can creditors garnish your wages or take your house in California?
Yes. California allows income garnishment by judgment creditors. The law also allows a judgment creditor to place a lien on real property owned by the judgment debtor. Generally the homestead exemption will protect a primary residence from a forced sale for debt owed. Judgment creditors rarely request a forced sale of a primary residence because it is a complicated and lengthy process and is seldom profitable enough for implementation.
If you have two houses can you sell them both and buy another house and not pay capital gains tax?
No. And if neither house is your main home (primary residence) you will have to report the sale of both houses on your income tax return and be subject to income taxes on the sale of the capital gains on both houses.
Can you avoid capital gains taxes from the sale of a second home you did not live in and used the proceeds to buy a new primary residence?
I can't think of any. Understanding that it is the sale of a primary residence that gets a tax break...not the making of income to purchase one. Except for the special conditions under Sect 1031, what one does with the money after a recognition event normally can't effect the taxability of the event preceding it.
Where do I go to find out what houses in my town are for sale for the back taxes owed?
Where do I go to find out what houses in my town are for sale for the back taxes owed?
